If this has happened to you, call our attorneys at Spangenberg Shibley & Liber. You can have confidence in our firm for many reasons:

  • We’ve been serving clients in Ohio since 1946.
  • We have recovered over $1 billion in verdicts and settlements for our clients.
  • Our reputation for winning and for excellent trial skills ensures that the other side will be more open to a fair and generous settlement.
  • We have a long list of accolades and a history of case wins.

Long-Term Healthcare Insurance Is a Promise to Pay

Long-term care insurance (LTC) is a contract or policy of insurance that promises—in exchange for the timely payment of premiums—coverage for expenses of long-term care, such as the costs of a nursing home or assisted living facility. As more and more Americans with long-term care insurance enter these facilities, the insurance industry faces difficulty making good on their promises.

Some insurers, however, have miscalculated the profitability of certain long-term care insurance products. For example, many insurers fighting to get into the “long-term care party of the 1990s” overestimated policy lapse rates and miscalculated the mortality rates for the target population. Now, during the “hangover,” insurers too commonly attempt to refuse payment of legitimate claims, sometimes on a global scale.